Local Exchange Trading Systems: Difference between revisions
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'''[http://en.wikipedia.org/wiki/Local_Exchange_Trading_Systems Local Exchange Trading Systems]''' (LETS) also known as '''LETSystems''' are local, non-profit exchange networks in which goods and services can be traded without the need for printed currency. |
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LETS networks use interest-free [http://en.wikipedia.org/wiki/community-based_economics local credit] so direct swaps do not need to be made. For instance, a member may earn credit by doing childcare for one person and spend it later on carpentry with another person in the same network. In LETS, unlike other local currencies, no scrip is issued, but rather transactions are recorded in a central location open to all members. As credit is issued by the network members, for the benefit of the members themselves, LETS are considered [http://en.wikipedia.org/wiki/mutual_credit mutual credit] systems. |
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== Ideas == |
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* A system that registered laptop owners could allow trade in LETs among identified persons, including trade with [[Laptop_sharing|laptop shares]], further persons could be invited through a [http://en.wikipedia.org/wiki/web_of_trust web of trust]. |
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* LETs may require and encourage local democratic control any may both require and promote [[citizenship education]]. |
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* A system like the [http://en.wikipedia.org/wiki/Saber_%28sectoral_currency%29 Saber] could help to increase understanding for local currencies.{{IntRef|Mentoring}} |
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* [[Micro-Finance]] could be used to provide incentives for established and stable LET economies to change to national currency; this way an established LET would provide the reputation to attract micro credits. |
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== See also == |
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* [http://en.wikipedia.org/wiki/WIR_Bank WIR Bank] - a very mature complementary currency system |
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[[Category:Feedback]] |
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Latest revision as of 08:38, 30 July 2013
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